Photocure (LON:PHONOK) announced results for Q217 with 10% growth for the Hexvix/Cysview franchise compared to Q216. The US was a major driver, up 55% to NOK10.9m, though partner sales fell by 9% to NOK15m due to lost reimbursement in France. The company also announced that the US Centers for Medicare and Medicaid Services (CMS) released a proposed rule that would create a new set of codes to cover Blue Light Cystoscopy (BLC) with Hexvix/Cysview. These new codes should help improve the penetration of the product into the US market.
Major reimbursement change in the US coming soon
The CMS has released a proposed rule, which is set to be finalised and issued in Q417 after the comment period expires in September. Once issued, it would result in significant improvement in the reimbursement for certain BLC with Hexvix/Cysview procedures in Medicare patients. As 73.4% of bladder cancer patients are over 65, according to the National Cancer Institute, this should help accelerate penetration of the product in the US.
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